The value of market shares for the newly-formed HP Inc grew 13 percent in their first day, finishing at $13.83 (€12.61).
The advance gives HP Inc a market value of $26 billion (€23.7 billion), greatly exceeding its counterpart, Hewlett Packard Enterprise, whose shares fell 1.6 percent to $14.49 (€13.21), giving the company a market capitalisation of roughly $27 billion (€24.6 billion), Bloomberg reported.
Jeffries analyst James Kisner said there remain opportunities for growth in printers, while Meg Whitman, who is now CEO of Hewlett Packard Enterprise, said she “expected a lot of volatility in the next couple of weeks”. She predicts that by the end of November the value of the two companies will become clearer.
The two new companies had their first day of business yesterday after splitting, with HP Inc CEO Dion Weisler promising his company would empower “industries, communities and individuals” to continuously “reinvent” how they operate.